The dollar was trading near a two-month high against a basket of currencies on Monday, as doubts about an economic recovery persisted, ahead of a batch of economic data and political developments in the United States.
The recovery of US stocks last Friday contributed to limiting the rise of the dollar, which is a safe haven, but signs of slowing Walid’s recovery from the pandemic and political uncertainty kept investors cautious.
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Was little changed on the dollar index at 94.530, and it had hit its highest level in two months last week at 94.745. It made its biggest weekly gain since early April. Against the Japanese currency, the dollar recorded 105.36 yen, and the euro recorded $ 1.1626 after it fell to $ 1.16125 on Friday, its lowest level in two months. The British pound recorded 1.2797, up from its lowest level in two months, which it reached on Wednesday at $ 1.2676.
Investors are now looking forward to the first presidential debate in the United States on Tuesday. “Few will try to bet on the election result,” said Kyosuke Suzuki, Societe Generale’s foreign exchange director. They’ll wait at least until tomorrow’s TV debate. ”
Elsewhere, the Turkish lira briefly dipped 1.6 percent to a record low of 7.8000 against the dollar. The fall or rise of the dollar affects gold prices as a safe haven in times of political or economic turmoil, and gold is also affected by a decline or rise in stocks.
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